Housing Market
All Reports
June 24, 2022
High home prices and mortgage rates, along with economic uncertainty and an increase in second-home loan fees, have put an end to the pandemic-driven vacation-home boom. Demand for vacation homes has fallen below the pre-pandemic baseline for the first time in two years, with mortgage-rate locks for second homes down 4% from before the pandemic […]
June 23, 2022
Pending sales and Redfin’s Homebuyer Demand Index posted their largest year-over-year declines in over two years.
June 23, 2022
The Hispanic-white homeownership gap is narrowing as the largest group of Hispanic Americans ages into prime homebuying years. Nationwide, 49.1% of Hispanic families own their home. That’s essentially unchanged from 48.9% just before the pandemic began, but up from 46.3% a decade ago. As the Hispanic homeownership rate increases, the Hispanic-white homeownership gap has narrowed […]
June 21, 2022
Sellers are adjusting their expectations as they realize many buyers are no longer able to afford the type of home they could have before mortgage rates shot up. An increasing share of home sellers are lowering their asking price as rapidly rising mortgage rates cut into buyers’ budgets and homebuying sentiment drops. Price drops are […]
June 21, 2022
A buyer on a $2,500 budget can afford a $400,000 home with a 6% mortgage rate. That’s compared to a $517,000 home with a 3% mortgage rate. A homebuyer on a $2,500 monthly budget has lost nearly $120,000 in spending power since the end of last year as mortgage rates have nearly doubled. That buyer […]
